Streaming Giant Lower Ahead of Next Week's Earnings Report

Netflix (NASDAQ:NFLX) is scheduled to report third-quarter earnings after the close on Tuesday, Oct. 20. Wall Street is anticipating earnings of 82 cents per share on revenue of $12.87 billion, according to Zacks Consensus Estimates. 

NFLX was last seen down 1.2% at $69.66 today. The streaming giant has seen its shares fall below all simple daily moving averages from the 10-day through the 320-day trendlines, including former support at the 60-day, and is now down 25.8% year to date.

Looking back at the last 12 earnings reports, NFLX finished the following trading session higher only five times, averaging a 0.3% post-earnings loss over this period. In fact, the shares have moved lower the day after each of the last five earnings reports. The options pits are pricing in a 9.3% move, regardless of direction, this time around. 

Analysts are mostly bullish ahead of the event. Of the 50 brokerages covering NFLX, 35 carry a "buy" or better rating, while 15 recommend "hold."